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| *This offer is subject to credit approval. The 0.00% annual percentage rate (APR) is available for three months from loan closing. Minimum line to qualify for introductory rate is $25,000. The APR then reverts to a variable APR based on The Wall Street Journal Prime Rate on the first day of the billing cycle, currently 5.00% as of 4/30/08. Your rate and corresponding APR after the 3-month introductory period may be higher than the advertised rate, depending on your credit history and FirstMerit's credit policies. The APR will range from Prime minus 1.01% (currently 3.99%) to Prime plus 7% (currently 12.00%). Your APR may vary but will never exceed 25% in Ohio, 22.2% in Pennsylvania, or the maximum rate allowed by law, whichever is less.
This offer is available only on owner occupied homes with an 85% or less loan-to-value ratio. Property insurance is required. Flood insurance may be required. Loan fees and closing costs, which could vary up to $580, are waived. There is a $60 annual fee, waived the first year. In Ohio, there is a $600 termination fee if the home equity line of credit is closed within three years. Not available with interest only repayment option. Paying only the minimum payment will result in a balloon payment at maturity. Some restrictions apply. Offer good only for new FirstMerit Home Equity customers and cannot be used to refinance existing FirstMerit Home Equity account debt. Limited time offer. Documents must be signed within 30 days of application.
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